RIM now worth less than Apple's App Store alone

Apple Insider reports that Research in Motion's struggles in the smartphone market have driven its stock price so low that the company is worth less than the estimated value of just Apple's App Store.

At a price of $13.44, RIMM stock finished last week at a total value of just $7.04 billion. That's less than the $7.08 billion that Apple's App Store is estimated to be worth, as noted by author Brian S. Hall.

An analysis from Trefis places the value of the App Store at 2 percent of Apple's market cap. AAPL stock has a market cap of $354 billion, or more than 50 times greater than RIMM, and 2 percent of that means the App Store contributes $7.08 billion to Apple's market cap.